Reynolds Earns 26 Cents per Share

The stock market is down again today after being up shortly after the opening bell. Thanks to yesterday’s blow-out earnings report, shares of Trex (TREX) were up as much as 15% today but it’s given back most of those gains.

We had our final earnings report of this season. Reynolds Consumer Products (REYN) reported earnings of 26 cents per share which matched expectations. Revenues were up 12% to $845 million.

“We continue growing share in most of our categories and began 2022 with another solid quarter demonstrating our commitment to price leadership,” said Lance Mitchell, President and Chief Executive Officer. “We are innovating and investing in our categories while also recovering profitability in a dynamic environment. I remain exceptionally proud of the RCP team and see tremendous potential for our business.”

For guidance, Reynolds said it expects earnings to be at the low end of its 2022 guidance range of $1.56 to $1.70 per share. Reynolds is up about 3% in today’s trading.

The next big market news will be tomorrow morning’s CPI report.

Posted by on May 10th, 2022 at 11:38 am


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